Crow Holdings Capital has acquired the Shops at Mockingbird, a retail center near Dallas Love Field, from Dunhill Partners, according to an announcement on Apr. 7. The sale price was not disclosed, but the property had a tax value of $25.5 million as recorded by the Dallas Central Appraisal District.
The transaction involves a roughly 77,000-square-foot shopping center located at 4550 West Mockingbird Lane in Dallas. JLL Capital Markets’ Adam Howells brokered the deal, which was first reported by the Dallas Morning News. Built in 2008 and occupying about 6.4 acres at Mockingbird Lane and Lemmon Avenue, the property is nearly fully leased with a reported occupancy rate of 94.7 percent and LA Fitness as its anchor tenant.
This acquisition is part of Crow Holdings’ broader strategy to target stabilized retail properties in high-income areas. The firm has recently expanded its portfolio beyond Texas with purchases such as a $44 million multi-building retail center in Oak Brook, Illinois and another partnership for almost 315,000 square feet in Wheaton for $62 million.
In addition to acquisitions, Crow Holdings refinanced much of its retail portfolio last year—covering nearly two hundred properties across thirty states—and earlier this year sold most of an industrial portfolio to Blackstone for $718 million.
Dunhill Partners has also been active both buying and selling assets over the past year. Its recent moves include acquiring Greenville Promenade northeast of Dallas from film producer Bob Yari. Bill Hutchinson, CEO of Dunhill Partners, described The Shops at Mockingbird as a “crown jewel” benefiting from its location “in one of the country’s strongest retail demographic pockets,” which he said likely contributed to buyer interest.
